Investors Buy Large Volume of Put Options on Trimble (NASDAQ:TRMB)

Trimble Inc. (NASDAQ:TRMB) saw some unusual options trading on Monday. Stock investors purchased 16,767 put options on the stock. This is an increase of 870% compared to the typical daily volume of 1,729 put options.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TRMB shares. Robert W. Baird boosted their price target on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com cut Trimble from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Sanford C. Bernstein boosted their price target on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $86.00.

Insider Activity

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares of the company’s stock, valued at $729,529.98. This represents a 17.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Trimble

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Trimble by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company’s stock worth $2,099,064,000 after buying an additional 183,150 shares in the last quarter. Select Equity Group L.P. increased its holdings in Trimble by 22.4% during the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company’s stock valued at $717,506,000 after purchasing an additional 1,857,517 shares in the last quarter. Geode Capital Management LLC raised its position in Trimble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company’s stock valued at $425,427,000 after purchasing an additional 138,136 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Trimble by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company’s stock worth $400,312,000 after purchasing an additional 222,679 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Trimble by 2.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company’s stock worth $390,909,000 after purchasing an additional 134,277 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Up 0.2 %

Shares of NASDAQ:TRMB opened at $65.65 on Tuesday. The company’s fifty day moving average is $71.96 and its 200-day moving average is $69.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble has a 52 week low of $48.65 and a 52 week high of $77.78. The company has a market capitalization of $16.14 billion, a PE ratio of 10.78, a P/E/G ratio of 3.09 and a beta of 1.57.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.